How do I send "Binance-Peg BSC-USD"?

TastyChillySauce00

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Quote from: rapture333 on January 22, 2023, 07:32:43 PM

So do I send it to my BNB wallet on Binance under BSC?

You do need BNB BSC to be able to send your USDT (BSC). It needs a very small fee and you shall not worry about that.

Quote from: rapture333 on January 22, 2023, 05:59:34 PM

I was given some Binance-Peg BSC-USD to my Coinbase Wallet. In the description it says its Tether (USDT), and I am confused how to send it to my Binance wallet.

Is it an ERC20 coin? A BSC coin? Do I send it as USDT, or BSC?

It's not ERC20 since it was based on the binance smart chain. It's BEP20 asset. Fill your wallet with fees and you will able to sell your USDT BSC. It's USDT but based on the BSC network.

Binance has two blockchains native and BSC. your asset was based on the BSC.

Quote from: rapture333 on January 22, 2023, 05:59:34 PM

It says its on the BSC Blockchain in the app, but it also says its USDT. I am all kinds of confused and not sure what to do from here.

Also I do have BNB in order to pay the gas fee that it says is required.

USDT was also based on BSC. I thought that you meant about this https://bscscan.com/token/0x55d398326f99059ff775485246999027b3197955

You can verify your USDT whether that was legit or not based on the smartcontract. You need to fill your wallet with $1 worth of BNB BSC.

livingfree

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Quote from: rapture333 on January 22, 2023, 07:32:43 PM

So do I send it to my BNB wallet on Binance under BSC?

Yes.

Check the withdrawal network of BNB, I haven't used Coinbase for a long time so check that and choose the right network if it's giving the option and it should be BSC.

If you want to send it to your BNB wallet, also choose the receiving address that's in BSC network to avoid any conflict. Because once you send it at the wrong network, it's unlikely to be recovered.

It happened for so many times in different users so be careful with that and choose the correct network for sending.

Apocollapse

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It's actually a stablecoin of USD or real fiat that run in BSC network, but since the creator is Tether, that's why they're using Tether icon. Does Coinbase ask for additional BNB as the fee? AFAIK any centralized exchange ask the token itself as the fee e.g. if you want to send USDT, the fee is also USDT, not BNB. You need to make sure Binance is support that's token, you can contact the Binance support and ask how to get the receiving address.

Quote from: https://finance.yahoo.com/news/embily-adds-support-binance-peg-202200017.html

Binance-Peg BSC-USD is a decentralised financial payment network that rebuilds the traditional payment stack on the blockchain. It utilises a basket of fiat-pegged stablecoins, algorithmically stabilised by its reserve currency USDT, to facilitate programmable payments and open financial infrastructure development.

Techdev

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Yes, exactly. Also, feel free to send me some dust for the guidance, lol

rapture333

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So do I send it to my BNB wallet on Binance under BSC?

Techdev

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It's on the BNB smartchain(BSC)

rapture333

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Merit: 250

I was given some Binance-Peg BSC-USD to my Coinbase Wallet. In the description it says its Tether (USDT), and I am confused how to send it to my Binance wallet.

Is it an ERC20 coin? A BSC coin? Do I send it as USDT, or BSC?

It says its on the BSC Blockchain in the app, but it also says its USDT. I am all kinds of confused and not sure what to do from here.

Also I do have BNB in order to pay the gas fee that it says is required.

Topic: How do I send "Binance-Peg BSC-USD"? (Read 100 times)